By Marcus Lehner, Keith Spencer, Luke Cooper
The start line for the gathering of articles awarded this is that we will be able to locate the solutions we'd like within the classical canon of Marxist political economy.Thus, this anthology seeks to do hyperlink jointly issues: the contradictions of the worldwide financial system and the
developing tensions and frictions in diplomacy with the increase of recent worldwide powers.
Marcus Lehner deals an overview of Karl Marx’s theories of cash, banking and finance and indicates the way it supplies a compelling account of what triggered the nice monetary difficulty. Updating an past research written for the German Marxist magazine Revolutionärer Marxismus he applies the speculation to the yankee banking system.
Luke Cooper surveys the paintings of 2 fresh excessive profile Marxist theories of imperialism built through David Harvey and Alex Callinicos.
And Keith Spencer makes a case research research of a ‘Great energy’ that used to be on the centre of the worldwide monetary whirlwind: Britain.
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Additional resources for Marx, Money and the Modern World: Finance Capital and Imperialism Today
There is also a social theorization of the material possibilities for socialist transformation in the existing system. e. ‘is there one organisational form of finance capital’? It did not, naturally, take him long to find that there was no single organisational form. But this led him to drop the project of theorising the mechanisms of finance capital as part of the imperialist evolution of the system. Perhaps at the root of this mistake is the method of abstraction and concretisation Callinicos outlines at the beginning of Imperialism and Global Political Economy.
Successive legislative changes on the domestic and international scale provided the institutional and regulatory framework which allowed US and British finance capital to diverse into a variety of seemingly evermore fictitious forms. e. the longer temporalities that can incorporate a number of accumulation cycles – we need to analyse both the economic imperatives for capital (the search for “organisational forms in response to internal contradictions”72) and the struggles within and between classes that determine the form and content of the political response to these intrinsic and fundamental capitalist contradictions.
In general, abstractions denote necessary causal relationships between people and Marx's method of abstraction moves between the necessities operating at different historical levels of the analysis of society he presents. As Andrew Sayer puts it: “The hierarchy of types of concepts in Marxism [range] from the most basic abstract concepts which refer to transhistorical necessities, through [to] historically specific abstract concepts, through [to] the tendencies… [and on] to the more concrete level.